The Austrian economists, more consistently than those of any other school, have criticized nearly all forms of government intervention in the market — especially inflation, price controls, and schemes for redistribution of wealth or incomes because they recognize that these always lead to erosions of incentives, to distortions of production, to shortages, to demoralization, and to similar consequences deplored even by the originators of the schemes.
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About Henry Hazlitt
Henry Hazlitt was a 19th-century American journalist and writer. Henry Stuart Hazlitt was an American journalist, economist, and philosopher known for his advocacy of free markets and classical liberal principles. Over a career spanning more than seven decades, Hazlitt wrote extensively on business, economics, and public policy for prominent publications, including The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times. Read more on Wikipedia →